France eyes doubling defense budget by 2027 compared to 2017 level

By Ilayda Cakirtekin

ISTANBUL (AA) - French President Emmanuel Macron on Sunday announced that they will double the defense budget by 2027 compared to its level in 2017.

"The defense budget in 2017 was €32 billion ($37B). On top of the current Military Programming Law, an additional €3.5 billion ($4B) will be allocated in 2026, followed by a further €3 ($3.5B) billion the next year. We will therefore allocate €64 billion ($74B) to our defense in 2027," Macron said during his speech on the eve of Bastille Day addressing armed forces at the Hotel de Brienne in Paris.

Calling the increase a "new and historic effort," he noted that it is "twice" the budget French armed forces had in 2017.

"This new, historic effort is proportionate, credible, and essential," Macron underscored.